SEOUL, Jan. 13 (Korea Bizwire) — Chinese electric vehicle (EV) manufacturers, led by BYD, are intensifying efforts to enter the South Korean market in 2025, raising questions about their strategic motivations. Analysts suggest this move addresses China’s domestic overproduction while positioning South Korea as a testing ground for expansion into advanced markets. Industry insiders speculate [...]
SEOUL, Jan. 13 (Korea Bizwire) — In a move to boost consumer adoption of electric vehicles (EVs), the South Korean government has announced a revision to eco-friendly certification standards, lowering the threshold for large electric passenger cars to qualify for tax incentives. The Ministry of Trade, Industry and Energy (MOTIE) revealed on January 12, 2025, that [...]
SEOUL, Jan. 13 (Korea Bizwire) — Chinese electric vehicle (EV) manufacturers, led by global EV sales leader BYD, are preparing to enter the South Korean market in 2025, raising questions about their potential impact on the domestic auto industry. Experts remain divided on whether Chinese brands will struggle to gain traction or disrupt the market with [...]
SEOUL, Jan. 12 (Korea Bizwire) — Chinese electric vehicle giant BYD is set to officially enter South Korea’s passenger car market with the launch of its compact electric SUV, the Atto 3. The brand inauguration event is scheduled for January 16, 2025, signaling BYD’s aggressive push into the competitive Korean automotive landscape. Industry sources revealed that [...]
SEOUL, Jan. 10 (Korea Bizwire) — In a stark reversal of fortune, South Korea’s leading battery manufacturers are bracing for significant fourth-quarter losses as the electric vehicle market faces a prolonged period of stagnating demand. LG Energy Solution, one of the country’s top battery makers, reported an operating loss of 225.5 billion won in the fourth [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Group has unveiled plans for its largest-ever annual domestic investment of 24.3 trillion won while preparing for significant global investments to address the anticipated protectionist policies of Donald Trump’s second U.S. administration. Focus on U.S. Investments Amid Changing Trade Landscape Hyundai has already committed nearly $18 billion to [...]
LAS VEGAS, Jan. 8 (Korea Bizwire) — Harman International, a wholly owned automotive and audio subsidiary of Samsung Electronics Co., on Wednesday unveiled its new “automotive intelligence” technologies at CES 2025, aiming to deliver personalized in-cabin experiences through advanced intelligence and contextual awareness. “The automotive industry is rapidly transitioning to software-defined vehicles, with cars evolving [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Group on Thursday pledged to invest a record 24.3 trillion won (US$16.6 billion) in South Korea this year to bolster future competitiveness amid uncertain global business environments. The annual investment plan represents a more than 19 percent increase from last year’s domestic investment of 20.4 trillion won, [...]
SEOUL, Jan. 8 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it has begun to sell its vehicles on Amazon.com, one year after the South Korean carmaker signed a strategic partnership with the U.S. retail giant. Starting Jan. 7 (local time), U.S. consumers can browse, order and finance any new Hyundai vehicle through a participating [...]
SEOUL, Jan. 6 (Korea Bizwire) — Genesis, the independent luxury brand of Hyundai Motor Group, on Monday revealed the design of its revamped all-electric GV60 sport utility vehicle (SUV) ahead of its domestic launch in the first quarter. It marks the first time that the GV60 has undergone a redesign since its debut in October [...]